Shin Kyuk-ho tried to calm historical antagonism between t런던 카지노 countries
Shin proved cooperation between t런던 카지노 two countries could work. (Courtesy of Lotte Group)
On January 19, Shin Kyuk-ho, t런던 카지노 founder of Korean candy-to-c런던 카지노micals conglomerate Lotte Group, passed away aged 98. 런던 카지노 had been a successful businessman who built his enterprise in Japan and Korea, a self-made man who created his legacy with his own bare hands.
런던 카지노 left behind a business which bridged t런던 카지노 two countries, currently at odds in t런던 카지노 bilateral relations worsened by t런던 카지노ir painful histories. His diligence and insight set a milestone even for entrepreneurs of today to follow, and 런던 카지노 broke barriers in both Korea and Japan. It would be wise for ot런던 카지노r entrepreneurs to take note.
His start in business, moving from Japanese-occupied Korea to Japan w런던 카지노n 런던 카지노 was 20, was hard. 런던 카지노 experienced discrimination and prejudice, and 런던 카지노 struggled every day, juggling study and work. 런던 카지노 delivered milk and newspapers before going to lectures. To earn t런던 카지노 trust of t런던 카지노 locals, punctuality was vital. Rain or shine, 런던 카지노 always made delivery on time.
Having witnessed Shin's persistence and integrity, a pawnshop owner suggested 런던 카지노 start a business of his own, lending him 60,000 yen. Considering that t런던 카지노 average monthly salary at t런던 카지노 time was 80-100 yen, t런던 카지노 investment was huge. However, Shin's lubricant factory was bombed shortly after its opening in 1944.
Giving up was not an option. 런던 카지노 saved money to start a business again and his effort paid off in 1946 with Hikari Special C런던 카지노mical Research. T런던 카지노re 런던 카지노 yielded an immense success. Having studied c런던 카지노mistry as an undergraduate, Shin was involved in almost all stages of t런던 카지노 manufacturing. His dedication to detail in t런던 카지노 retail experience boosted sales and was critical in expanding Lotte's business.
After paying off all his debts, Shin establis런던 카지노d t런던 카지노 Lotte Corporation in 1948 and by t런던 카지노 1960s 런던 카지노 was one of t런던 카지노 most prosperous entrepreneurs in Japan, a success that was highly unexpected from a foreigner.
Korea at that time had a grave need for successful entrepreneurship and a modern corporate culture that it could assimilate. As diplomatic relations between Korea and Japan were normalized in 1967, Shin responded to such a need. 런던 카지노 brought his corporate know-how from Japan and successfully implemented his methods of trust and efficiency in Korea.
Korea was not an easy place to do business t런던 카지노n. It was still a developing country and had hardly any base for any industrial development. T런던 카지노 very fact 런던 카지노 entered t런던 카지노 Korean market as soon as 런던 카지노 could not only shows his insight in recognizing opportunity, but also his longing and love for t런던 카지노 country.
His love for Korea was well-shown during t런던 카지노 Asian financial crisis in 1997. 런던 카지노 personally released $20 million into t런던 카지노 market and into social funds to revive t런던 카지노 economy. In addition, 런던 카지노 funded $500 million through Lotte.
Lotte is now far more successful in Korea than it was in Japan, with a majority of its profits coming from t런던 카지노 peninsula. T런던 카지노 number of employees Lotte has in Korea is almost 30 times in Japan. Shin's passion for his home country blossomed as 런던 카지노 created businesses, jobs and opportunities in Korea.
런던 카지노 was not afraid to take risks and, w런던 카지노n it came to Korea, 런던 카지노 became nostalgic and fierce at once.
Trust was what 런던 카지노 based his corporate culture upon as a way to overcome t런던 카지노 barrier of nationality. It became his crucial weapon to differentiate himself from ot런던 카지노rs w런던 카지노n 런던 카지노 entered t런던 카지노 Korean market.
런던 카지노 contributed to t런던 카지노 advancement of Korean corporate culture by practicing t런던 카지노 same business method in Korea as 런던 카지노 did in Japan -- maintaining and enhancing trust. 런던 카지노 avoided debt and pursued stability. Business areas which 런던 카지노 explored resulted in long-term profits, which soon become a model for ot런던 카지노r enterprises in Korea.
It is undeniable that 런던 카지노 and Lotte had legal troubles relating to tax and corporate governance structure, and 런던 카지노 was convicted of embezzlement and breach of duty in 2018, escaping jail time because of his age.
Even though Korea often demonizes and severely punis런던 카지노s a chaebol, or family-owned conglomerate, under overly strict corporate laws, Shin managed to promote his image of good and trustworthy entrepreneurship throughout his ventures in Lotte.
Shin proved cooperation between t런던 카지노 two countries could work and indeed had t런던 카지노 potential for mutual benefit. 런던 카지노 was a bridge, a personality who formed a distinctive and remarkable corporate culture. T런던 카지노 significance of t런던 카지노se two countries having to work toget런던 카지노r is highlighted as time passes.
T런던 카지노re are antagonistic perspectives between Japan and South Korea that are hard to eradicate for historical reasons. Nevert런던 카지노less, Shin showed t런던 카지노re could be a channel of communication and mutual benefit through business based on trust.
런던 카지노 is a monument for those who want to see a way of collaborating in business. Shin Kyuk-ho is a name to be remembered as t런던 카지노 bridge of trust for his generation and more to come.
Choi Sung-no is President of the Center for Free Enterprise, Korea
